RMI - Payments System Advisor

Request for Expressions of Interest (INDIVIDUAL CONSULTING SERVICES) Payments System Advisor to the Monetary Authority of the Marshall Islands (MAMI) Project Name Pacific Strengthening Correspondent Banking Relationships Project

Project Number P502591

https: //projects.worldbank.org/en/projects-operations/project-detail/P502591

Activity and Reference Number (STEP) Payments System Advisor FJ-PIFS-567205-CS-INDV

Implementing Agency Names Pacific Islands Forum Secretariat

Country FIJI

The Pacific Islands Forum Secretariat (PIFS) and seven Pacific Island member countries (Fiji, Kiribati, Marshall Islands, Samoa, Solomon Islands, Tonga, Tuvalu, and Vanuatu) have received financing (grants and credits) from the World Bank Group’s International Development Association (IDA) towards the Pacific Strengthening Correspondent Banking Relationships Project (the Project) and will apply part of these proceeds to the contract below for Consulting Services. PIFS is seeking a qualified and experienced Payments System Advisor to provide technical advisory support to the Monetary Authority of the Marshall Islands (MAMI). The Advisor will assist with the establishment of a safe, efficient, inclusive, and scalable national payments system and oversight function, aligned with the CBR Project, the CBR Roadmap, regional harmonization work, and the emerging Pacific Payment Mechanism (PPM). The Advisor will work closely with MAMI, PIFS, the World Bank, IMF, and other technical assistance providers to translate IMF recommendations into practical implementation steps for RMI. This is a time-based individual consultant assignment for up to twelve (12) months, with up to 240 working days of input, requiring significant in-country presence in Majuro (50–60% of input days).

Scope of Services

Under the overall direction of the Project Coordinator, the Payments System Advisor shall undertake the following activities: Review IMF recommendations and prepare a 12month implementation roadmap for MAMI’s payments function.

Advise on operational setup of payment operations and oversight divisions.

Support development of a National Payments Strategy and stakeholder consultations.

Provide technical inputs on payment infrastructure modernization, including phased implementation of an Integrated Payment and Clearing System (IPCS).

Support payment system oversight, risk-based supervision, and data collection.

Assist with stakeholder coordination and establishment of a National Payment Council.

Align RMI’s work with regional harmonization initiatives and the CBR Project’s Component 2 activities.

Deliver training, mentoring, and knowledge transfer to MAMI staff.

Mandatory Criteria Education A master’s degree in economics, finance, law, public policy, payment systems, information systems, business administration, or a related field.

A PhD or advanced professional qualification is preferred.

Experience Minimum of 10 years of experience in payment systems, financial market infrastructures, central bank payment operations, payment system oversight, digital financial services, remittances, cross-border payments, or correspondent banking.

Evaluated Criteria:

Evaluated Criteria Points Demonstrated experience in developing and implementing national payment systems strategies and oversight frameworks 30 Experience advising central banks or monetary authorities on payment infrastructure modernization 30 Familiarity with international standards (CPMIIOSCO Principles, ISO 20022, risk-based supervision) 20 Experience in stakeholder consultation and coordination across government, financial institutions, and payment service providers 20

PIFS, on behalf of the participating member countries, now invites eligible individuals (“Consultants”) to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services (attach curriculum vitae and a cover letter with description of experience in similar assignments, similar conditions, etc.). Firms’ staff may express interest through the employing firm for the assignment and, under such situation, only the experience and qualifications of individuals shall be considered in the selection process. The attention of interested Consultants (including firms) is drawn to paragraph 3.14, 3.16 and 3.17 of the World Bank’s Procurement Regulations for IPF Borrowers, dated February 2025 (“the Regulations”), setting forth the World Bank’s policy on conflict of interest. A Consultant will be selected in accordance with the individual consultant selection method set out in the World Bank Consultant Guidelines The detailed Terms of Reference (TOR) for the assignment is attached below and provides details of the scope of the services required along with specific deliverables expected. Further information can be obtained at the address below during office hours 09.00 to 17.00 hrs Fiji Time. Expressions of interest must be delivered in a written form to the address below (in person, or by mail, or by e-mail) no later than Monday, September 14, 2026, 17:00 hrs (Fiji Time) Address for Enquiries and Submission of EOIs Pacific Islands Forum Secretariat

Attn: [contact details removed]

Private Mail Bag, Suva PO Box 856, Suva, Fiji.

Tel: [contact details removed]

E-mail: [contact details removed]

TERMS OF REFERENCE

CONSULTING SERVICES - INDIVIDUAL SELECTION Payments System Advisor to the Monetary Authority of the Marshall Islands (MAMI) Project Overview Project Name Pacific Strengthening Correspondent Banking Relationships Project

Indicative Activity / Budget Line

Component 2: Enabling Environment and Regulatory Harmonization - Payment System Oversight and Regulation - Oversight of National Payment Systems

Activity Reference Number (STEP) FJ-PIFS-567205-CS-INDV

Position Title Payments System Advisor to the Monetary Authority of the Marshall Islands (MAMI)

Location of role Majuro, R